Archive for marts, 2009

Latest newsLately there has been a lot of talk aboute wether we are on our way out of the financial crisis. Not only private persons are hoping for the bad times to end also one of the biggest carproducers are GM are hoping that the times will change as well. Lately President Obama gave GM 60 days to improve their financial situation.

What must be done
GM’s director and CEO, Rick Wagoner, has resigned and will be replaced by Fritz Henderson. Kent Kresa become temporary chairman during most of the board replaced before long. GM will have 60 days to implement a restructuring. GM will have financial support to keep the wheels in motion during the period. read more aboute wether it is possible to control the economy here

It’s a matter of confidence
Consumer Confidence in the U.S. rose in February for the second month running as a conservative indication that U.S. consumers are regaining confidence in the future. The final figures for the Michigan consumer confidence index landed at 57.3 in February against 56.8 expected.

In growth
U.S. private consumption accounts for approx. 70 per cent. growth and is therefore a crucial factor in relation to a reversal of the economic cycle. The slightly rising consumer confidence reinforces the belief that later this year, a reversal in growth, writes Bloomberg News. read more aboute the growing consumer trust here

By up state bonds
U.S. interest rates fell to the ground by stones as the central bank the Federal Reserve tonight announced that it will buy heavily in state bonds to accelerate the end of the recession that has hit the country.

The power to the people
The U.S. taxpayer now owns some 80 per cent of insurance giant AIG. It has cost them 170 billion. dollars. If some feel that perhaps it was a bit expensive, so they are probably not very happy when they hear where the money has gone.

Where did the money go?
Today AIG publiced two things: A list of banks that have lost money paid for – and a bonus payout of 165 million. U.S. dollars to the department which lost money. “These payments are nothing less than a reward for an obvious failure,” said Elijah E. Cummings, a Democrat from the State of Maryland, to The New York Times, and continues. read more aboute AIG’s bad investments here

The worst is over?
Iceland is six months after the country’s banking collapse back on the right track, and an economic “turnaround” later this year is not unlikely. Iceland has been out in real bad weather financially, so if the sun starts shining on the island there should be no hard feelings here.

Back on track
A delegation has been sent to Iceland to look deeper into hwo the economy is doing. “There has been some positive progress,” said Mark Flanagan – who is leader of the delegation that has spent the last two weeks to evaluate the Icelandic economy – today. read more aboute wether Iceland’s economy is turning around here

The fireign ministers of the G20 countries have been asambled to discuss what to do aboute the financial crisis. They have however found it rather hard to agree on a joined solution on the problems. There has been so many suggestions as to how this crisis should be solves, the same number of solutions are cousing disagreement.

There must be a better track of finances in the U.S. The promise of the Secretary of Treasury, Timothy Geithner – but it is just not a thing that you do just like that.

Cut off half

Geithner promises that Obama’s government is determined to cut off half of the American Govenment deficit over the next four years. Geithner said that the current financial year will end with a deficit of 1,750 billion. U.S. dollars, representing 12.3 per cent. of the U.S. gross domestic product. read more aboute Geithner’s speech here

It looks like just any oil workers wet dream. At everyday job with deafening noise, oil baths and juggling with tons of heavy steel structures with a flick will be replaced by luxury and happy days.

Oil Rig Hotel and Spa

The winner of the Radical Innovation in Hospitality Awards have ‘Oil Rig Hotel and Spa’ had such a good idea that it is difficult not to give this dream attention. Even if it is some years away. investments in abandent oil platforms

The American economy has been going extremely slow just as it has been the case all over the rest of the world. This is why president Obama’s rising popularity is a real gain for the US, believes the recognized economist Robert Wescott.

The consumer confidence rock bottom

The American consumer is completely down in rock bottom. Nearly half of Americans are afraid of losing their jobs, and Obama, it is thus crucial to reverse the mood and get people to spend money, so there may come once again in the growth and the negative spiral can be broken. read more aboute what psychology can do to the american economy